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The Kansas City Chiefs are a professional American football team based in Kansas City, Missouri. The Chiefs compete in the National Football League as a member club of the league's American Football Conference West division. The team was founded in 1960 as the Dallas Texans by businessman Lamar Hunt and was a charter member of the American Football League. In 1963, the team moved to Kansas City and assumed its current name. The Chiefs joined the NFL as a result of the merger in 1970. The team is valued at over $2 billion. Hunt's son, Clark, serves as chairman and CEO. While Hunt's ownership stakes passed collectively to his widow and children after his death in 2006, Clark is the operating head of the franchise; he represents the Chiefs at all league meetings and has ultimate authority on personnel changes. The Chiefs have won three AFL championships, in 1962, 1966, and 1969.